Essay
Below is the Income Statement for Amy's Art Supplies. 
Required:
A) Prepare the closing entry for the year.B) Why are closing entries necessary?
Correct Answer:
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A) 
B) Without the closing entries the a...View Answer
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Correct Answer:
Verified
A) B) Without the closing entries the a...
B) Without the closing entries the a...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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